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Soft Landing Bandwagon Welcomes A Big Name As Market Ponders CPI
Call off the soft landing. Larry Summers has joined the bandwagon.
Normally that'd be funny. Sort o
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So its really consensus now!
It does seem contradictory for both “Soft Landing” and “150bps of cuts” to be consensus simultaneously. That said, I’m just now reminding myself that the market-implied cuts are really a probability-weighting of outcomes. 75bps for soft landing, 225+ for hard.